GE & UK Export Finance Agree to Support 1.35 GW Turkish Solar Project

GE and UK Export Finance (UKEF), UK’s export credit agency, announced that agreement has been reached to finance Kalyon Enerji’s 1.35 GW Karapinar solar project located in Konya Karapinar.

The solar power plant is Turkey’s largest solar facility, approximately 11km long and 3km wide. GE Energy Financial Services worked with UKEF, who are set to guarantee a $291 million Buyer Credit Facility, subject to financial close. This will enable GE to deploy its first FLEXINVERTER solar technology outside the U.S., supporting Turkey’s clean energy goals and facilitating trade for UK suppliers.

GE’s Grid Solutions site in Gebze will be producing transformers for integration in the solar inverter system. The export contract also covers design, engineering, project management, site management and commissioning.